The state has received MVR 25.3 billion in revenue and grants so far this year, according to the finance ministry’s latest weekly financial report.

Taxes accounted for the largest share, with MVR 19.7 billion collected, making up 78 per cent of the total revenue. Non-tax revenue stood at MVR 5.3 billion, while MVR 203 million was received as grants.

On the expenditure side, government spending fell by 15.6 per cent compared to the same period last year.

With revenue growth outpacing expenditure, the state’s budget has remained in surplus, standing at MVR 534.6 million as of last week.